Billionaire Enrique Razon Jr.'s Bloomberry Resorts Corporation on Friday said that Global Gaming Philippines LLC has consummated the share purchase option on 921,184,056 ?Bloomberry shares at P1.67 apiece in a special block sale.
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Global Gaming bought the shares from Prime Metroline Holdings Inc. for a total consideration of $15 million, plus a 10 percent seller's cost of investment in a casino hotel. Both are parties to ?a participation agreement... on participation rights in new shares, tag-along and drag-along rights and co-investment rights...? Bloomberry corporate secretary Silverio Benny Tan disclosed to the Philippine Stock Exchange.
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Global Gaming holds the services management contract to Bloomberry?s $1.2-billion Solaire Manila casino hotel project in Pasay City.
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Bloomberry is one of four groups with a license to operate in the Philippine Amusement and Gaming Corporation?s ?Entertainment City ? a Las Vegas-style gaming district. The others Andrew Tan?s Alliance Global, Kazuo Okada?s Tiger Resorts, and Henry Sy?s Belle Corp. ? VS, GMA News
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